Acuity Analytics: Turning Legal Data Into Actionable Insight

As a Client Relationship Manager here at Acuity, I love advocating on behalf of my customers – so much so that recently I’ve been feeling more like a Business Intelligence Consultant. As I kick off my blogging adventure, you will hear me talking (and writing) a lot about Acuity Analytics.

My clients are all about the data these days and thanks to Acuity Analytics, we can provide a high-level overview of our clients’ KPIs (Key Performance Indicators) across firms, matters, practice areas and legal spend to name a few. Providing these diagnostic overviews to our clients have stimulated deeper conversations – and simply stellar (not to mention surprisingly similar) questions:

Why are our adjustments so low?

How can you help educate our invoice reviewers on utilizing Acuity’s adjustment features?

Wow, we’ve spent a lot on travel – what suggestions can you provide to tighten up these costs?

With the Acuity Analytics platform, I can provide my clients the first step in understanding their matter and invoice portfolio – consistent, trended data at a glance. The second step is identifying concerning patterns and opportunities for improvement – throughout invoice workflows and the full lifecycle of matter management. The final step is working together to create solutions – making sense out of the data and turning it into action.

Acuity Analytics allows our clients to benchmark and review data to the comparable prior year period. Clients can immediately see the magnitude of reduction in legal spend once tighter billing guidelines have been implemented, for example – and fine-tune those rules while preserving firm relationships, reducing risk and enhancing the much-coveted bottom line.

My next post will explore some of the trends I’m seeing with my clients and their litigation cost review. I’m lucky enough to serve a wide breadth of clients across numerous industries, yet have found that they face very similar challenges in managing their portfolio of cases and claims – particularly when it comes to wrapping up data into a meaningful narrative that allows them to make great decisions and affect positive change for their business.

In the meantime, keep crunching those numbers and asking the hard questions that can position your legal team as a trusted business strategist.